Thanks to revised data, the 2017 growth rate in Greece was better than initially calculated, said the Greek Statistical Authority (ELSTAT), with Greek GDP increased by 1.5% compared to 2016 and with an increase of 1.4 % announced in the first estimate in March 2018. Apparently, this creates better conditions for this year, that the original target is set at 2.1%.
With regard to official figures, final consumption expenditure in 2017 in terms of volume, increased by 0.6% compared to 2016, compared with a 0.2% decrease announced in the first estimate in March 2018.
Imports of goods and services for the year 2017 in terms of volume increased by 7.1% compared to 2016, compared with an increase of 7.2% announced in the first estimate in March 2018.
Exports of goods and services in the year 2017 in terms of volume increased by 6.8% compared to 2016, compared with the same increase of 6.8% announced in the first estimate in March 2018.
Over € 2 billion invested in R & D
At the same time, data showcase that last year, research and development investment in Greece exceeded 2 billion euros. This is the evidence proving the rise of the Greek economy. In particular, the share of R & D expenditure on GDP was set at 1.14% in 2017, according to preliminary data published yesterday by the National Documentation Centre.
Continuing the growth of recent years, spending on R & D in 2017 in Greece was 2,033 million euros, 15.9% higher than in 2016. The R & D intensity, which represents R & D expenditure as a percentage of GDP, rose by 0.13 percentage points to 1.14%, from 1.01% in 2016.
On the basis of the new data, Greece is ranked in the 19th place among the 28 EU member-states, now closer to countries such as Ireland and Spain…. / IBNA